StubHub Gains After Citi Upgrade, Higher App Download Forecast

According to CNBC, StubHub shares rose 3.8% on Friday after Citi upgraded the ticket reselling platform to buy from neutral. Analyst Jason Bazinet cut his price target to $7 from $9, but said that still implies 18% upside from Thursday's close. Bazinet said he expects StubHub's adjusted EBITDA to beat analyst estimates and full-year earnings to land near the top end of company guidance, helped by record weekly app downloads during the World Cup and higher downloads since then. He also forecast $10.9 billion in gross merchandise sales for 2026, above the company's guidance, and said StubHub had about 40% market share in online ticket resale. StubHub stock is down 51% year to date.